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You are considering the purchase of a A-rated corporate bond with a term of five years, face value of $1,000, and a coupon of 7.50%,

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You are considering the purchase of a A-rated corporate bond with a term of five years, face value of $1,000, and a coupon of 7.50%, paid semi-annually. You observe that A-rated corporate bonds are yielding 8.22% in the market. What is the maximum price you should pay for this bond

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